CIBC Private Wealth Group LLC Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

CIBC Private Wealth Group LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,045 shares of the construction company’s stock after purchasing an additional 260 shares during the period. CIBC Private Wealth Group LLC’s holdings in Quanta Services were worth $2,512,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dorsey Wright & Associates grew its stake in shares of Quanta Services by 4.1% in the fourth quarter. Dorsey Wright & Associates now owns 21,468 shares of the construction company’s stock worth $6,785,000 after acquiring an additional 836 shares in the last quarter. L & S Advisors Inc purchased a new position in Quanta Services in the fourth quarter valued at $2,443,000. Allstate Corp acquired a new position in Quanta Services during the 4th quarter worth $1,357,000. Brown Brothers Harriman & Co. increased its holdings in Quanta Services by 0.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 6,214 shares of the construction company’s stock worth $1,964,000 after purchasing an additional 52 shares during the period. Finally, DnB Asset Management AS raised its position in Quanta Services by 4.3% in the 4th quarter. DnB Asset Management AS now owns 52,393 shares of the construction company’s stock valued at $16,559,000 after purchasing an additional 2,145 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 2.6 %

Shares of NYSE:PWR opened at $264.62 on Thursday. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $277.57 and its 200-day simple moving average is $304.58. The company has a market cap of $39.22 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services’s payout ratio is currently 6.63%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Stifel Nicolaus lowered their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.